Rockville, June 13, 2023 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, the global lyocell fiber market is estimated to be valued at US$ 1.6 billion in 2023 and is expected to grow at a CAGR of 11.1% during the forecast period of 2023-2033.
Lyocell fibers have gained popularity in the fashion and apparel industry due to their softness, breathability, and moisture management properties. They are used in a wide range of garments, including dresses, shirts, denim, and activewear. The market is witnessing increased adoption of lyocell fibers by fashion brands that prioritize comfort, sustainability, and performance.
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Lyocell fibers are also finding applications beyond fashion and home textiles. They are increasingly used in technical applications such as medical textiles, wipes, filtration materials, and automotive textiles. Lyocell fibers' strength, moisture management, and biodegradability make them attractive for these specialized sectors.
Lyocell fibers are highly versatile and are blended with other fibers to enhance their properties. They are blended with natural fibers like cotton or synthetic fibers like polyester to create fabrics with desired characteristics, such as improved strength, moisture management, or a drape with sustainability.
As consumers and industries prioritize sustainability and performance, the demand for lyocell fibers is expected to continue to rise across various sectors.
Key Takeaways from Market Study
- According to Fact.MR, it is projected that the market for lyocell fiber will experience a CAGR of 11.1% during the forecast period
- The global lyocell fiber market size is estimated to reach US$ 4.6 billion in 2033
- The global lyocell fiber market size reported by Fact.MR for 2022 was US$ 1.4 billion
- The lyocell fiber is likely to create an absolute $ opportunity of US$ 3.2 billion by the end of 2033
- The historic CAGR of the lyocell fiber market is 10.1% from 2018 to 2022
“From Apparel to Automotive, the Lyocell Fibers Forge New Pathways in Fashion, Medical Textiles, Filtration, and More” says a Fact.MR analyst.
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Market Growth Stratagems
To meet the growing demand for lyocell fibers, manufacturers often invest in expanding their production capacity. This involves establishing new production facilities or upgrading existing ones to increase output and improve efficiency. The capacity expansion enables manufacturers to fulfill customer orders promptly and cater to a wider customer base.
Manufacturers are also focusing on continuous product innovation and development to offer improved and diversified lyocell fiber products. This includes developing fibers with enhanced properties, such as improved strength, dyeability, and moisture management. For instance, the VEOCEL brand has launched a new offering: Lenzing’s VEOCEL brand launches hydrophobic lyocell fibers with dry technology which is naturally smooth and gentle on the skin, ensuring comfort for sensitive skin.
Additionally, manufacturers explore new applications for lyocell fibers and develop specialized variants tailored to specific industries and customer requirements.
Key Companies
- Acegreen Eco-Material Co LTD
- Acelon Chemicals & Fiber Corp.
- Baoding Swan Chemical Fiber Groups Co. LTD
- China Populus Textile LTD
- Chonbang Co. LTD
- Grasim Industrial LTD
Segmentation of Lyocell Fiber Industry Research
Lyocell Fiber Market by Fiber Type:
- Staple
- Filaments
- Others
- Lyocell Fiber Market by Application:
- Apparel
- Sportswear
- Denim
- Others
- Home Textiles
- Curtains
- Carpets & Upholstery
- Beddings
- Towels
- Others
- Medical Use
- Footwear
- Others
- Apparel
- Lyocell Fiber Market by Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the lyocell fiber market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of type (staple, filament, and others), application (apparel (sportswear, denim, and others), home textiles (curtains, carpets & upholstery, beddings, towels & others), medical use, footwear, and others), and across major regions of the world (North America, Latin America, Europe, East Asia, South Asia, and Oceania, Middle East & Africa).
Key Questions Covered in the Lyocell Fiber Market Report
- What will be the estimated size of the Market in 2023?
- At what rate will the global Lyocell Fiber sales grow until 2033?
- Which are the factors hampering the Lyocell Fiber demand?
- Which region will spearhead the growth in the global industry by 2033?
- Which are the factors driving sales in the Lyocell Fiber Market during the forecast period?
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